Analysis of information sources in references of the Wikipedia article "Ludwig Kainer" in English language version.
The work in question is Pissarro's 1903 harbor scene painting The Anse des Pilotes, Le Havre, painted in the final year of the artist's life. According to the suit, the work was purchased by German collector Ludwig Kainer in 1904 from the artist's son. It was most recently displayed at the High Museum of Art in Atlanta in 2014.
The foundation renounced the Kainer estate's rights to the painting "Danseuses" by Edgar Degas in exchange for 30% of the sale proceeds. That figure amounted to $1.8 million after Christie's sold the piece first to a private buyer and then arranged an auction a few days later where it went for $10.7 million. Two years later, 11 heirs of Kainer brought a suit in New York that claimed the foundation was a sham entity created by the Swiss bank UBS.
When in 1970 the West German government agreed to compensate the heirs of Nazi spoliation and brutality, a director of the Swiss bank (now UBS) decided to revive the foundation in order to get the payout.
It turns out that the Kainer "heir" that has for years collected proceeds from these sales and other restitutions, including war reparations from the German government, is not a family member but a foundation created by Swiss bank officials. In lawsuits filed in New York and Switzerland, the Kainer relatives contend that officers of the bank — now part of the global banking giant UBS — never made a diligent effort to find them, and worse, used the family name to create a "sham" foundation ostensibly organized to support the health and education of Jewish youth but actually formed, they say, to cheat them out of their inheritance.
When in 1970 the West German government agreed to compensate the heirs of Nazi spoliation and brutality, a director of the Swiss bank (now UBS) decided to revive the foundation in order to get the payout.
It turns out that the Kainer "heir" that has for years collected proceeds from these sales and other restitutions, including war reparations from the German government, is not a family member but a foundation created by Swiss bank officials. In lawsuits filed in New York and Switzerland, the Kainer relatives contend that officers of the bank — now part of the global banking giant UBS — never made a diligent effort to find them, and worse, used the family name to create a "sham" foundation ostensibly organized to support the health and education of Jewish youth but actually formed, they say, to cheat them out of their inheritance.
The work in question is Pissarro's 1903 harbor scene painting The Anse des Pilotes, Le Havre, painted in the final year of the artist's life. According to the suit, the work was purchased by German collector Ludwig Kainer in 1904 from the artist's son. It was most recently displayed at the High Museum of Art in Atlanta in 2014.
It turns out that the Kainer "heir" that has for years collected proceeds from these sales and other restitutions, including war reparations from the German government, is not a family member but a foundation created by Swiss bank officials. In lawsuits filed in New York and Switzerland, the Kainer relatives contend that officers of the bank — now part of the global banking giant UBS — never made a diligent effort to find them, and worse, used the family name to create a "sham" foundation ostensibly organized to support the health and education of Jewish youth but actually formed, they say, to cheat them out of their inheritance.
